This invention relates to automation processes for accessing financial prospectus data. More particularly, this invention relates to methods and systems for enabling users of prospectuses to easily access the financial information contained therein.
A prospectus is a written document providing information concerning an offering of financial securities. A prospectus contains narrative information on, for instance, the type and classification of security, the type of business associated with a security, potential risk factors, use of proceeds, and security voting rights. A prospectus may also include both consolidated and detailed financial information on the associated business and the security itself. Information in the form of data in the prospectus may, for instance, include underwriter compensation, dilution data, operations data, summary of accounting policies, inventories, property and equipment, leases and other assets, short-term borrowing and long-term debt, employee benefit plans, management salaries, income taxes and authorization of common and preferred stock. The amount of data contained in a prospectus may be extensive.
Prospectuses are available in printed form, typically as a booklet, suitable for distribution to potential purchasers of securities. If the prospectus is associated with a federally-regulated security, it has to be submitted to the Securities Exchange Commission (SEC) where it is entered into their Electronic Data Gathering, Analysis, and Retrieval System (EDGAR). The prospectus information is then accessible by the general public over the SEC-maintained database. The files in EDGAR are in either plain text or Hypertext Mark-up Language (HTML) form. Unofficial Portable Document Format (PDF) files may also be submitted to the SEC. All of these file types are in a human-readable form but not in electronically readable form. Further, the information and data contained in financial prospectuses may be in a variety of formats and arrangements which may make the information and data difficult to read, analyze and interpret.
Therefore, the information and data presented in prospectuses may be difficult to manage because of its volume, form, format and arrangement. Thus, it is desirable to provide methods and systems for prospectus data management. Such methods would facilitate the provision of data in a manner that is electronically accessible and more easily usable.